Exclusive Listings

Murchison Apartments

Address:
1684 Murchison St
Los Angeles , CA 90033
Price:
$3,069,000
Status:
Available
Type:
Apartment
# Units:
18
Year Built:
1965
Building Size:
12,052
Lot Size:
14,870
CAP Rate:
4.15%
GRM:
13.67x
Price/Unit:
$170,500
Price/SqFt:
$255

SUMMARY


The Growth Investment Group, and Sperry Van Ness are pleased to present Murchison Apartments, a Mid 60’s construction 18 unit apartment building, with a very desirable unit mix of 14- 2’s and 4- 1’s! The property has nice curb appeal, with inviting landscaping and is just awaiting a value add buyer to add some capital improvements to seize the upside potential of the asset. This building has secured parking and gated entry, and just requires a new owner experienced in these types of opportunities as well as Los Angeles Rent Control. There is an estimated 31% upside in Rents, giving the new owner to achieve market rents aggressively, or over time with a stable asset as properties in Los Angeles continue to appreciate in Value. This is a good opportunity for any size investor whether looking to exchange into something larger, or add to your LA RE Portfolio. 

 



LOCATION


Great Central NELA location across from the LA Hangar Studios, and close to Prime Boyle Heights and City Terrace, but bordering El Sereno and Lincoln Heights as well. Murchison Apartments are less than 3 miles from Union Station and just over a mile from USC Medical Center, and CAL State LA. The property is in close proximity to the 10, 5, 710 freeway's and has a DASH stop out front. This area is nearby upcoming development projects that are bringing Biotech Companies into the area, which may change the demographic and bring many new jobs into the area!

Marketing Files


Due Diligence


Broker Contact

Justin McCardle
Direct: (909) 486-2069
justin@growthinvestmentgroup.com

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Office:
999 S. San Gabriel Blvd.
San Gabriel, CA 91776
Phone: 626.594.4901
Fax: 626.316.7552
Email: properties@GrowthInvestmentGroup.com
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